The Chinese auto parts maker is set to acquire the assets of the bankrupt—and onetime government-backed—A123 Systems, which makes lithium-ion batteries for electric cars, after coming up with a winning $256.6 million bid Sunday. Sidley Austin is advising Wanxiang, while Brown Rudnick and Richards, Layton & Finger also landed roles in the sale.
December 10, 2012 at 06:23 PM
1 minute read
The original version of this story was published on Law.Com
UPDATE, 12/11/12, 6:10 p.m. EST: The names of lawyers from Sidley Austin and Covington & Burling have been added in the article’s seventh and eighth paragraphs.
Chinese auto parts manufacturer Wanxiang Group is set to acquire the assets of bankrupt—and onetime government-backed—A123 Systems, which makes lithium-ion batteries for electric cars, after coming up with the winning bid Sunday.
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